A number of other research analysts have also issued reports on the company. Vetr lowered American Express from a buy rating to a strong sell rating and set a $53.00 target price on the stock. in a report on Thursday. Nomura lowered American Express from a neutral rating to a reduce rating and decreased their price target for the company from $62.00 to $56.00 in a research report on Thursday, October 6th. Credit Suisse Group AG reiterated a sell rating and issued a $62.00 price target on shares of American Express in a research report on Friday, September 16th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $74.00 price target on shares of American Express in a research report on Monday, September 12th. Finally, Atlantic Securities initiated coverage on American Express in a research report on Friday, September 9th. They issued an underweight rating and a $62.00 price target for the company. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $67.88.
American Express (NYSE:AXP) traded down 0.43% during mid-day trading on Friday, reaching $60.15. 4,963,849 shares of the company were exchanged. The company has a market cap of $55.57 billion, a P/E ratio of 10.64 and a beta of 1.24. The stock’s 50-day moving average is $63.87 and its 200-day moving average is $63.60. American Express has a 12 month low of $50.27 and a 12 month high of $77.61.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. American Express’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. Equities analysts expect that American Express will post $5.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.32 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 annualized dividend and a yield of 2.13%. American Express’s payout ratio is currently 22.54%.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of American Express by 1.1% in the second quarter. Vanguard Group Inc. now owns 47,952,807 shares of the payment services company’s stock valued at $2,913,613,000 after buying an additional 504,284 shares in the last quarter. Dodge & Cox raised its stake in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock valued at $1,716,387,000 after buying an additional 1,888,379 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock valued at $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of American Express by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 15,733,904 shares of the payment services company’s stock valued at $955,992,000 after buying an additional 173,281 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of American Express by 0.7% in the second quarter. BlackRock Fund Advisors now owns 9,301,472 shares of the payment services company’s stock valued at $565,157,000 after buying an additional 61,459 shares in the last quarter. 82.17% of the stock is currently owned by institutional investors and hedge funds.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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